With the aid of a $5 million grant, the development of a 40,000-square-foot business incubator is taking shape in Hamden and is expected to open by mid-2015.

The incubator is at 496 Newhall Street and will be owned and operated by the Hamden Economic Development Corp. (HEDC). The former school has been abandoned since the early 2000s when environmental concerns were raised about the property. Several proposals to reuse the site as a school were consistently opposed by parents, even as the state DEP awarded the site a clean bill of health.

The incubator is expected to be home to as many as 20 small companies.

The HEDC is expected to provide reception, parking, rest rooms, WiFi, conference space, security, etc. — “all at an affordable rent structure,” it says.